biote (NASDAQ:BTMD) Announces Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Key Points

• biote reported a Q1 EPS of $0.06, missing the consensus of $0.09, with revenue down 8.3% to $44.9M (vs. $46.0M) and management attributing a ~$1.7M revenue hit and ~$1.5M incremental costs to a January hormone-pellet recall that it expects to normalize by the end of Q2.
• Profitability and liquidity were pressured: adjusted EBITDA fell to $8.7M (19.4% margin), net income plunged to $2.7M from $15.8M year‑ago, and cash stood at only $5.3M after repurchase liability repayment.
• Management expanded the commercial footprint to about 120 sales reps and trained over 200 new practitioners, which it expects to drive a return to growth as hires ramp, but analysts have trimmed price targets and the stock carries a consensus Hold with an average target of $2.75.

biote (NASDAQ:BTMD - Get Free Report) issued its earnings results on Wednesday. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.03), FiscalAI reports. biote had a negative return on equity of 23.41% and a net margin of 14.07%.The firm had revenue of $44.94 million during the quarter, compared to the consensus estimate of $46.02 million.

Here are the key takeaways from biote's conference call:

• Q1 revenue fell 8.3% to $44.9M, with procedure revenue down 13.2% to $31.3M (including a ~$1.7M recall impact), while dietary supplement sales grew 19.1% to $11.0M driven by e‑commerce.
• The company voluntarily recalled certain hormone pellets in January, citing an estimated ~$1.7M revenue hit and ~$1.5M incremental costs; supply constraints reduced Asteria’s share of shipped pellets and disrupted sales efforts, with management saying normalization should occur by end of Q2.
• Biote expanded its commercial footprint to about 120 sales reps (25 new hires in Q1) and trained over 200 new practitioners (+16.5% YoY), which management expects to drive a return to growth as hires and trainees ramp (~6 months).
• Profitability and cash were pressured: adjusted EBITDA fell to $8.7M (19.4% margin), net income dropped to $2.7M from $15.8M year‑ago, and cash stood at $5.3M after repurchase liability repayment, signaling margin and liquidity strains.

biote Price Performance

Shares of NASDAQ:BTMD traded down $0.01 during midday trading on Wednesday, reaching $2.20. The company's stock had a trading volume of 163,288 shares, compared to its average volume of 219,594. biote has a fifty-two week low of $1.27 and a fifty-two week high of $4.75. The company has a market capitalization of $87.01 million, a P/E ratio of 2.93 and a beta of 1.71. The business's fifty day simple moving average is $1.81 and its 200-day simple moving average is $2.27.

Institutional Trading of biote

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its stake in shares of biote by 7.2% in the second quarter. Geode Capital Management LLC now owns 616,697 shares of the company's stock valued at $2,480,000 after buying an additional 41,333 shares in the last quarter. State Street Corp increased its position in biote by 17.3% in the fourth quarter. State Street Corp now owns 600,114 shares of the company's stock worth $1,560,000 after purchasing an additional 88,402 shares during the period. Renaissance Technologies LLC increased its position in biote by 5.7% in the fourth quarter. Renaissance Technologies LLC now owns 203,594 shares of the company's stock worth $529,000 after purchasing an additional 10,900 shares during the period. First Trust Advisors LP increased its position in biote by 5.3% in the second quarter. First Trust Advisors LP now owns 73,669 shares of the company's stock worth $296,000 after purchasing an additional 3,675 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in biote by 25.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 105,502 shares of the company's stock worth $274,000 after purchasing an additional 21,730 shares during the period. 21.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on BTMD. TD Cowen dropped their price objective on biote from $3.00 to $2.50 and set a "buy" rating for the company in a research note on Thursday, March 12th. Truist Financial dropped their price objective on biote from $5.00 to $4.00 and set a "buy" rating for the company in a research note on Thursday, April 16th. National Bank Financial set a $2.50 price objective on biote in a research note on Thursday, March 12th. Finally, B. Riley Financial dropped their price objective on biote from $3.00 to $2.00 and set a "neutral" rating for the company in a research note on Thursday, March 12th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $2.75.

biote Company Profile

biote Corp. operates in practice-building business within the hormone optimization space. It trains physicians and nurse practitioners in hormone optimization using bioidentical hormone replacement pellet therapy in men and women experiencing hormonal imbalance. The company offers Biote Method, a comprehensive end-to-end practice building platform that provides Biote-certified practitioners with the components developed for practitioners in the hormone optimization space comprising Biote Method education, training, and certification services; practice management software that allows Biote-certified practitioners to order, track, and manage hormone optimization product inventory and other administrative requirements; inventory management software to monitor pellet inventory; and information regarding available hormone replacement therapy products, as well as digital and point-of-care marketing support.

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